Union Finance Minister Nirmala Seetharam said that banks have recovered more than Rs 10 lakh crores from bad loans between 2014 and 2023, as part of the reform process implemented by the Modi government.
“The Directorate of Enforcement (ED) has investigated around 1,105 bank fraud cases, which resulted in the attachment of proceeds of crime amounting to 64,920 crores.
As of December 2023, assets amounting to 15,183 crores have been restituted to public sector banks,” the Finance Minister posted in a detailed statement on X.
Opposition, habituated to spreading lies, wrongly claims that there has been a “waiver” of loans given to industrialists,” the Finance Minister said.
Stepping up the attack on her political rivals she said: “Despite claiming to be “experts” in finance and economy, it’s a pity that opposition leaders are still unable to distinguish between write-offs and waivers.
